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Weekly News Roundup: Binance Enables MPESA, Bitlipa Records Growth

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In Bitcoin Africa’s Weekly News Roundup, we look at the most trending blockchain and cryptocurrency stories from Africa this week.

Here are our top picks!

Binance Enables MPESA Payments

MPESA CHARGESTop global cryptocurrency exchange by volume, Binance has added popular Kenyan mobile money payment option MPESA to its P2P platform.

At the time of writing, the option is not available to every user but can be accessed by some users as it is still being tested. Binance P2P is Binance’s answer to the sharp increase in transaction volumes by other marketplaces like Paxful.

In Africa, it first launched for the Nigerian market and is set to add Kenya in the coming weeks.

Kenyan P2P Platform, Bitlipa, Records Exponential Growth During Beta Program

BitLipaContinuing with more P2P news, Kenyan based platform Bitlipa claims to have recorded impressive volumes since launching its beta.

Speaking to a Kenyan blog, CEO, Apollo Eric stated that Bitlipa currently has over 5,000 users with a daily volume of over $120,000. Bitlipa only released its beta version and Android application in April 2020. This growth level makes Bitlipa one of the top peer-to-peer platforms in Kenya by transaction volume.

Bitlipa is a P2P exchange and payment application. Users can receive and send MPESA and crypto payments on Bitlipa. What’s more, users can exchange between Kenyan Shillings and cryptocurrencies.

Bitlipa supports bitcoin (BTC), ether (ETH), dash (DASH), and aeteninty (AE). The platform intends to provide services at minimum fees and KYC verification limits.

Akoin Foundation to Launch Blockchain Hub in Kenya and Ghana

Akoin Foundation is collaborating with Effects AI to establish Blockchain hubs in Kenya, Ghana, and Senegal. The first blockchain hub is scheduled to go live in Kenya, in the last quarter of 2020.

The aim of building these hubs is to provide support for young entrepreneurs interested in Blockchain development in Africa.

Ghana and Senegal will benefit from the second phase of hubs, set to launch in the first quarter of 2021. These hubs will also serve as job boards for African interested in the blockchain industry and jobs that pay in cryptocurrency.

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Luno Customers to Earn Interest on Crypto Holdings

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Luno customers can now earn interest on crypto holdings thanks to a partnership with Genesis. The crypto exchange announced the partnership on 6 August 2020 in a statement.

Luno Customers to Earn Interest on Crypto Holdings

LunoThe partnership will create savings accounts providing customers with institutional-level interest rates. The savings accounts will offer banking services to underbanked customers in emerging markets while enabling customers in all markets to earn interest on crypto holdings.

“Our partnership with Genesis allows us to offer more diversified financial products to our customers. We are dedicated to providing innovative financial solutions to consumers all over the world – whether they are in Africa, Asia, or Europe – regardless of their local currency. We specialise in making crypto safe and easy to use,” the CEO of Luno, Marcus Swanepoel said.

Luno is a global cryptocurrency exchange with headquarters in London and regional hubs in Cape Town and Johannesburg. The company is enabling users in more than 40 countries to buy and store crypto. Moreover, Luno focuses on educating its users about cryptocurrency.

Genesis

Genesis is a digital currency prime broker that concentrates on crypto lending, borrowing, and trading. The company also offers custody services to holders of digital assets.

Genesis CEO Michael Moro said: “By combining Genesis’s infrastructure with Luno’s footprint in more than 40 countries, we are creating a fairer, more inclusive financial system by providing access to interest-bearing products to historically underbanked and unbanked populations.”

“We are operating in a historical context where global fiat monetary policy has produced record-low interest rates in traditional money market and savings accounts. The interest customers can earn on their crypto is compelling. It presents an opportunity to attract those unfamiliar with crypto, and to offer them a very clear value proposition.”

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Weekly News Roundup: KuCoin and Crypto.com Enter Africa, Luno Adds Interest

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KuCoin

In Bitcoin Africa’s Weekly News Roundup, we look at the most trending blockchain and cryptocurrency stories from Africa this week. Here are our top picks!

KuCoin Adds Nigerian Naira to P2P Platform

KuCoin, one of the big cryptocurrency exchange building a P2P platform, has added the Nigerian naira (NGN).

Nigerian users of KuCoin can now buy BTC and USDT directly with the naira (NGN) directly. What’s more, Nigerians can buy bitcoin with their credit/debit card.

KuCoin is set to add more African currencies to its P2P platform soon.

Crypto.com Adds KES and ZAR

Crypto.com

Another major cryptocurrency exchange making moves in the African market is Crypto.com. The exchange added Kenya Shillings (KES) and the South African Rand (ZAR) this week.

This update will allow Kenyans and South Africans to buy cryptocurrencies on Crypto.com. The major advantage Crypto.com gives users is billing users in local currencies.

Buying crypto with credit/debit cards in your local currency removes cost charged by card issuers for transactions denominated in foreign currencies.

Luno Partners With Genesis Prime Brokerage to Enable Interest For Users

Luno is partnering with Genesis, a leading digital currency prime brokerage service, to provide customers with simple, accessible ways to earn interest on their crypto holdings. With this new partnership, Luno will provide an option for getting savings accounts with institutional-level interest rates, especially for users in developing markets. 

LunoFurther, these savings accounts will give unbanked customers access to banking services like interest receiving accounts. This presents another option for crypto users to generate income via yield on crypto holdings.

Speaking to the press, CEO of Genesis, Micheal Moro said:

We share Luno’s passion for making it safe and easy – across all segments of the market – to learn about, buy and store cryptocurrencies. By combining Genesis’s infrastructure with Luno’s footprint in more than 40 countries, we’re creating a fairer, more inclusive financial system by providing access to interest-bearing products to historically underbanked and unbanked populations.”

Luno also introduced instant buy with PayU in Nigeria and South Africa this week. The PayU addition allows users to buy crypto without having to deposit funds first.

Luno continues to be a leading exchange in Africa with plans to enter new markets like Ghana and Kenya.

Binance added Ugandan Shilling (UGX)

BinanceBinance.com added Ugandan Shilling (UGX) deposits and withdrawals. UGX joins the Nigerian naira (NGN) and South Africa rand (ZAR) as African currencies that are directly supported on Binance.com.

Ugandans can buy BTC, ETH, BNB, XRP, BUSD, and USDT directly with UGX. Deposits can be made via mobile money, while withdrawals can be done via bank transfer and mobile money payments.

Binance users in Uganda could only buy cryptocurrencies on the Binance Uganda standalone platform before this update. It is uncertain if that platform will still run side by side with Binance.com allowing direct trade from Uganda.

Coins App launched in Nigeria

Coins AppDan Holdings, a blockchain, and fintech firm launched Coin Apps this week. The app joins the growing list of crypto social payment applications in Nigeria. According to a press release, the app is available in Cameroon, Ghana, Ivory Coast, Mali, Nigeria, and Senegal.

The application allows users to make payments across the globe and exchange cryptocurrencies. Further, Dan Holdings plans to add Middle East, Egypt, South Africa, Mexico, and the USA by the end of August.

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Weekly News Roundup: House Africa to Launch Blockchain Land Titles

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Blockchain Land Titles

In Bitcoin Africa’s Weekly News Roundup, we look at the most trending blockchain and cryptocurrency stories from Africa this week.

Here are our top picks!

House Africa To Put Land Titles in Nigeria on the Blockchain

buy bitcoin in nigeria

HouseAfrica, a real estate startup headquartered in Nigeria, has partnered with Nigeria Mortgage Refinance Company (NRMC) to put land titles on the blockchain.

The companies are building a digital property (land) title verification on the blockchain. The authentication system, Propvat.com, allows individuals or firms to confirm the availability and value of properties in Nigeria. The platform aims to improve mortgage transactions in the West African state.

The co-founder and CEO of House Africa, Nnamdi Uba, described the partnership as one that will unlock capital in real estate. He said:

“The partnership will help to unlock trapped assets and capital in residential real estate valued at over 300-900billion USD. and then wealth creation through increased access to credit and growth in mortgage penetration by as much as 3% – 5% of GDP over a 5-10-year period (subject to increased adoption and user rates).”

Additionally, speaking to the press, Taofeeq Olatinwo, Head of ICT & Business Operations at NMRC, commented:

 “NMRC is delighted to partner with HouseAfrica in solving the land titling issues to strengthen the housing market in Nigeria.” 

MyCointainer Will Add CREDIT Before Swap Ends

TerraBitIn recent updates, we have been covering TerraBit, an African cryptocurrency startup providing access to crypto payments and purchases with FIAT.

In August, TerraBit will undergo a hard fork that will lead to a coin swap. Holders of CREDIT will have to swap their coins for new coins on the updated blockchain.

Ahead of this, the team behind TerraBit has been working on integrations for CREDIT. MyCointainer, a crypto wallet and staking platform is set to add CREDIT in August. This will allow users to opt for another wallet when storing or staking their CREDIT.

On the cryptocurrency market, bitcoin rose to new highs in 2020 as other altcoins saw an increase in value. BTC passed the $11,200 mark this week and ETH passed $300.

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